Fredericksburg, VA, Oct. 25, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- BitFrontier Capital Holdings, Inc. (OTC PINK: BFCH) is excited to provide a shareholder update as the Company draws closer to the construction and buildout of its first cryptomining facility.
Including details related to the construction and engineering of our first facility, the Company also wishes to report details related to the share cancellation as well as announcing plans for a hosting service whereby third party clients may host cryptocurrency miners within our facilities in exchange for a management fee.
The Company has been working closely with its engineering team to complete a sitemap of the land where the first facility will be located for ultimate submission to the city for approval. As previously stated, management has met with city officials to discuss the proposed tech center. The land is already properly zoned which will accelerate the review of the project. Once the sitemap and blueprints of the facility are submitted to the city and approved, construction will begin immediately. These activities are expected to be completed in November.
The Company will be making a deposit on the prefabricated steel building once the site plans have been submitted to the city so that the building is ready to ship to the site upon approval from the city.
Additionally, the intended share cancellation is progressing through the court system smoothly and management expects that the shares in question will be officially cancelled in the near future. The Company has had no response from any defendants at this point. BitFrontier will provide additional details on the status of the court case as they become available.
With construction of the first facility nearing, the Company has announced plans to provide a hosting service for third party clients that wish to enter the cryptomining industry without the capacity to build a specialized facility or have the equipment/personnel to maintain one. BitFrontier will offer highly specialized data center services for cryptomining, including hosting, electricity, cooling, maintenance, setup and security, and more, including especially low rates for electricity, which reduces client costs and is a major competitive advantage in the marketplace.
In addition to the above strategy, the Company will still be purchasing and operating its own miners as well, however with the vast amount of datacenter space soon available, this will provide additional revenue for the Company with minimal additional capital outlay.
About BitFrontier Capital Holdings, Inc.
BitFrontier Capital Holdings is a blockchain-oriented Company focused on the cryptocurrency markets. The Company plans on expanding operations in the Bitcoin mining industry and management sees great potential in this rapidly expanding sector. Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new Bitcoins are released.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at https://www.otcmarkets.com/
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.